3. Francis has an unpaid balance of $480 on his credit card. The annual percentage rate is 12%. What is the finance charge on his next monthly statement?

Question

asked Feb 22, 2021 11.7k views

1 Answer

Kyesha · Answer 1 · 2021-02-27T02:32:57+0000

Answer:

4 dollars 80 cents

Explanation:

if annual is 12%, find monthly, 12/12=1

monthly rate is 1%

convert to decimal

0.01

480*0.01

4.8